Leoni AG Financial Restructuring Strengthens Capital Base
Leoni AG reached an agreement with its lenders, bondholders, and a strategic investor on a comprehensive financial restructuring plan. The deal aims to stabilize the company’s finances, secure fresh liquidity, and support long-term growth. Under the plan, Leoni will receive a €150 million liquidity injection and see €708 million in debt removed from its balance sheet.
As part of the agreement, Leoni will delist from the stock exchange and no longer operate as a publicly traded company. A new company established by Austrian investor Stefan Pierer will become Leoni’s sole shareholder. Leoni notes that the restructuring does not affect its subsidiaries, suppliers, customers, or employees, and that operations will continue as normal while the company strengthens its financial footing.
Role of Strategic Investor Stefan Pierer
Pierer, a billionaire entrepreneur, serves as CEO of Pierer Mobility, a leading Austria-based motorcycle manufacturer. He founded the Cross holding group—now Pierer Industrie—in 1987 and still holds a majority stake. He also sits on the supervisory board of SHW AG, an automotive parts company, adding further industrial and automotive expertise to Leoni’s new ownership structure.
Leadership Transition at Leoni AG
Leoni Supervisory Board Chairman Klaus Rinnerberger will step into the role of chief executive officer once merger control authorities grant clearance. He succeeds former CEO Aldo Kamper, whose contract ended on March 31. Rinnerberger brings decades of automotive and restructuring experience, including leadership roles at Magna Group (CFO, CRO, CEO) and successful restructurings of Polytec AG and Peguform (now SMP).
Rinnerberger has served on the Executive Board of Pierer Industrie AG since 2010 and joined Leoni’s Supervisory Board in May 2021, becoming its chairman in May 2022. He said he looks forward to driving the “advanced restructuring” forward, with the shared goal of building a sustainably stable Leoni.
Next Steps and Approvals
Leoni reports that its key stakeholders now support the restructuring concept and capital measures. However, the company still needs merger control clearance and other customary regulatory approvals before fully implementing the plan. Once complete, the restructuring will substantially reduce Leoni’s debt, provide fresh liquidity, and secure financing for the coming years, giving the company a stronger platform for its future in the automotive and cable markets.
